Robert W. Baird Boosts Builders FirstSource (NYSE:BLDR) Price Target to $222.00

Builders FirstSource (NYSE:BLDR) had its price objective upped by Robert W. Baird from $190.00 to $222.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also issued reports on the stock. Barclays raised their target price on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. B. Riley lowered their price target on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Oppenheimer boosted their price objective on Builders FirstSource from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Loop Capital raised their target price on Builders FirstSource from $190.00 to $230.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.38.

Builders FirstSource Price Performance

NYSE BLDR opened at $198.46 on Wednesday. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The stock’s 50-day moving average is $179.24 and its two-hundred day moving average is $169.52. The firm has a market cap of $24.22 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 11.48 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $3.89 EPS. On average, analysts anticipate that Builders FirstSource will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has authorized a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the transaction, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

A number of hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Builders FirstSource during the second quarter worth about $27,000. Armstrong Advisory Group Inc. acquired a new position in shares of Builders FirstSource in the 3rd quarter worth approximately $30,000. Westside Investment Management Inc. bought a new stake in Builders FirstSource during the 1st quarter worth approximately $31,000. ORG Partners LLC acquired a new stake in Builders FirstSource during the 1st quarter valued at $33,000. Finally, First Horizon Advisors Inc. raised its position in Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.